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Alaska Air Group Chief Financial Officer Brandon Pedersen said the airline's hedging program has helped it save nearly $400 million. He noted that the airline's hedging program has remained essentially unchanged since it was launched a decade ago. "Our program is really designed to be price-agnostic. We go into the market and buy at current prices, and what it is is what it is," Pedersen said.

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Alaska Air Group Chief Financial Officer Brandon Pedersen said the airline's hedging program has helped it save nearly $400 million. He noted that the airline's hedging program has remained essentially unchanged since it was launched a decade ago. "Our program is really designed to be price-agnostic. We go into the market and buy at current prices, and what it is is what it is," Pedersen said.